What Market Correction? Copper Is Touching an All-Time High -- Here's How to Profit From It.
While the equity markets are in correction mode, it's easy to lose sight of the fact that the price of copper is almost touching an all-time high at around $5.10 per pound. One of the best ways to make money from it is by investing in copper and gold miner Freeport-McMoRan (NYSE: FCX). Here's why.By "price," I'm referring to the Chicago Mercantile Exchange (CME) March futures price, which reflects the U.S. copper market. The CME copper price is up 27% year to date. The price on the more globally focused London Metal Exchange (LME) hasn't quite matched the CME price in terms of nearing an all-time high, but it's still up almost 14% year to date.I refer to the price differentials because they reflect a fear that the Trump administration will impose tariffs on imported copper. Thus, U.S. users and speculators may be buying ahead of potential tariffs.Continue reading
While the equity markets are in correction mode, it's easy to lose sight of the fact that the price of copper is almost touching an all-time high at around $5.10 per pound. One of the best ways to make money from it is by investing in copper and gold miner Freeport-McMoRan (NYSE: FCX). Here's why.
By "price," I'm referring to the Chicago Mercantile Exchange (CME) March futures price, which reflects the U.S. copper market. The CME copper price is up 27% year to date. The price on the more globally focused London Metal Exchange (LME) hasn't quite matched the CME price in terms of nearing an all-time high, but it's still up almost 14% year to date.
I refer to the price differentials because they reflect a fear that the Trump administration will impose tariffs on imported copper. Thus, U.S. users and speculators may be buying ahead of potential tariffs.
